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    The Largest CRE Database in the US with Over 1 Million Listings

    Michael Levin, Gurnee, IL

    License ID: 475123263
    @properties Commercial
    Years of Experience
    17
    Association
    North Shore-Barrington Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (312) 337-0200
    Office Address:
    2356 N Elston, Chicago, IL, 60614

    Performance

    Listings
    13
    Total transactions
    51
    Total transactions amount
    $34M
    Price range
    $445k - 1M
    Average price
    $667k

    Listings

    For Sale (12)

    View map
    • Contact for pricing
      14,091 SF

      Skokie Freestanding Medical Office Building

      Freestanding medical office building in Skokie medical office corridor.
      9631 Gross Point Rd, Skokie, IL 60076
      View Details
    • $550,000

      Freestanding Mixed-Use Building For Sale

      Mixed-use building in Belmont Cragin with office and retail potential.
      3011 N Austin Ave, Chicago, IL 60634
      View Details
    • $580,000

      Commercial Land Development Opportunity

      Commercial land parcel for sale with approved special use permit.
      900 Winnetka Ter, Lake Zurich, IL 60047
      View Details
    • $685,000

      Northbrook Retail/Office Building For Sale

      Stand-alone retail/office building in Northbrook with high traffic exposure.
      1815 Dundee Rd, Northbrook, IL 60062
      View Details
    • $548,000

      Commercial Mixed-Use Building For Sale

      Freestanding mixed-use building in Belmont Cragin neighborhood.
      3011 N Austin Ave, Chicago, IL 60634
      View Details
    • $950,000

      Historic Skokie Theater For Sale

      Renovated live music venue in Skokie's downtown shopping district.
      7924 N Lincoln Ave, Skokie, IL 60077
      View Details
    • $1,200,000

      Top-Tier Office Suite/Recording Studio

      High-end office suite and recording studio in Northbrook.
      636 Anthony Trl, Northbrook, IL 60062
      View Details
    • $650,000

      Logan Square Development Site

      Mixed-use redevelopment opportunity in Logan Square with high visibility.
      3265 W Armitage Ave, Chicago, IL 60647
      View Details
    • $1,600,000
      8,975 SF

      Mixed-Use Building in Rogers Park

      Three-story, seven-unit mixed-use building in a high-traffic location.
      2944 W Devon Ave, Chicago, IL 60659
      View Details
    • $998,000
      4,180 SF

      High-End Freestanding Office Building

      Class A office building in Gurnee, Illinois for sale.
      1125 N Delany Rd, Gurnee, IL 60031
      View Details
    • $620,000
      2,000 SF

      Maywood Mixed-Use Commercial Building

      Mixed-use building with development potential in Maywood shopping district.
      409 Lake St, Maywood, IL 60153
      View Details
    • $1,500,000
      14,091 SF

      Skokie Medical Center Opportunity

      Freestanding medical building near Skokie Hospital with redevelopment potential.
      9631 Gross Point Rd, Skokie, IL 60076
      View Details

    For Lease (1)

    View map
    • $12 SF/Yr

      Glenview Office Space For Rent

      Spacious 4,200 SF Glenview office, ideal for medical or professional use.
      1300 Waukegan Rd, Glenview, IL 60025
      View Details

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    Michael Levin, Gurnee, IL
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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